A bearish shooting star formed on the Daily last week that was a signal to sell the pair. The pair has not disappointed and down from the 0.8054 open on Monday. The pair is approaching a trendline that could come into play. The ascending level that extends from the June 1st low has provided support on 31 August that gave bulls a second run at 0.8065. Seems as if this pair is having trouble making higher highs and also beginning to lean on the trendline support that suggests to me that a breakdown is coming.
Traders not yet in a sell can wait for a Daily close below the trendline near 0.7960 to look for a sell opportunity to the next area of support at 0.7730 and even 0.7635. A Daily close above 0.8065 would negate the bearishness and take the pair up toe last week’s high at 0.8124.

AUDUSD - 15 SEPT 2017

Source: MARYNA


  1. Hadyn S. says:

    Nice post Maryna! As you mentioned, this pair has been struggling to stay bullish. What I noticed the last couple weeks was how the AUD/NZD was in a 4hr head and shoulder reversal pattern. It has pretty much completed its Bearish reversal at this point. The EUR/GBP did the same thing, and the CAD/JPY has been Bullish since early August (again, 4hr). The USD has been a bit weak lately, so the bullish currencies in these pairs, have been my bullish USD, and JPY pairings. Also the USDX has been in a strong bearish pattern recently. They can all reverse again, so I’ll be looking for the signs. Until then……..I hope this helps some, as I’m very grateful for your many helpful post.

  2. Maryna says:

    Hey Haydn, LOL, I’m trying to get a “grip” on USD as I mostly trade it with FED news, so I’m grateful for your inputs. On top of that I’ve been a USD bear since Jan 2016! Thanks for all your “pointers” and I will take that into consideration for sure!

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